Creative Commons is beginning the process of revising their suite of licenses, with the goal of having a 4.0 version by the end of 2012:

https://creativecommons.org/weblog/entry/30676

They have a set of goals, including better internationalization, better interoperability with other licenses, and addressing the needs of new communities like governments and other public institutions in addition to the communities already using the licenses.

But this is the requirements gathering period--there is no draft yet. If you want your input considered, this is the best time to start thinking about what is and isn't working with the current version of the licenses.

There is a public wiki explaining more about the goals, timeline, considerations, and ways to participate:

http://wiki.creativecommons.org/4.0

Wikimedia wants the 4.0 licenses to be better for us and for the commons than the 3.0 versions, which most Wikimedia projects are currently using; CC has already reached out to us, wanting to come out with a version that the Wikimedia community will adopt, and we'll be trying to make sure everything is coordinated and communicated well throughout the revision process. But if you are interested, you should be participating directly. This is doubly true if you are in a jurisdiction with unusual requirements, or part of a group of users with particular wants that are not handled well by the current version.

Please pass this message on to other places where interested people will see it!

Cheers, Kat